Interest on ppf is taxable or not
Pls confirm whether interest on ppf is taxable income or not and should I mention it in "income from other sources" section when filling ITR or not.
Replies (3)
It is non taxable......consider it as exempt income
Dear Pawan,
Section 10 of Income Tax Act 1961 specifies the INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME
As per Section 10(11) "any payment from a provident fund to which the Provident Funds Act, 1925 (19 of 1925), applies" do not form part of total income. So we can say that interest of PPF is exempt from Tax.
Regards
Rohit Gupta
RHT1203 @ GMAIL.COM
Thanks for the information given
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